LA County New Plan to "End Homelessness" a tax on millionaires (San Francisco: how much, hotels)

[Mr_Geek]

Originally Posted by NyWriterdude

There are plenty of barriers to mobility. For starters you have to have relevant degrees and professional licenses to get professional jobs. You cannot have felonies if you want to get these jobs. In order to get an education you have to figure out how to pay for it. And of course you must meet the academic standards in order be accepted into college or grad school.

In order to get a loan (you can use a loan to start a business) you must have good credit and/or existing income.

There are plenty of barriers to mobility. There are ways around these barriers, but they do screen out LOTS of people.

1. Get a relevant degree and or professional license
2. Don't get convicted of a felony
3. Don't mess up your grades in high school
4. Don't mess up your credit

If you can't do the above 4 things then you created your own barriers.

[BennyPhoenix]

Originally Posted by Mr_Geek

1. Get a relevant degree and or professional license
2. Don't get convicted of a felony
3. Don't mess up your grades in high school
4. Don't mess up your credit

If you can't do the above 4 things then you created your own barriers.

The only one of those that can't be remedied is the felony. Even that isn't the end of ones life. There are employers who will hire felons.
Credit can be repaired.
You don't need good grades to get into a community college, once in work and study to get good grades.

Life is what you make of it. Mistakes can be repaired; but you can't fix stupid.

[CaliRestoration]

If you live in the United States, and make claims like "Upward mobility is impossible and 99% of rich people inherited their wealth", you're probably a LOT more lazier than you think.

[NyWriterdude]

Originally Posted by Mr_Geek

1. Get a relevant degree and or professional license
2. Don't get convicted of a felony
3. Don't mess up your grades in high school
4. Don't mess up your credit

If you can't do the above 4 things then you created your own barriers.

Messing up your grades in high school won't completely finish you. You could get into a CC (don't mess up your grades there) and with good grades transfer to a regular 4 year college.

Bad credit is not the end of the world either. You can fix it.

I was just saying there are plenty of barriers in place to those that don't qualify for the above mentioned reasons.

Yes getting the relevant degree and/or professional license is up to the individual to figure out.

[CaliRestoration]

You don't even have to be that great in college. You can be a C+ student, get hired as an entry level analyst at some investment firm, and you're literally 5 years away from a high 6 digit senior analyst role.

[aslowdodge]

Originally Posted by disgruntled la native

No. Most rich became rich from family money. The ones that were "self made" just happened to be luckier and maybe a little more evil than the rest. Don't get me wrong - if you're rich you should be able to keep a good portion of it, but it's your responsibility to give back to society. Someone making $10 million or even $1 million a year, if they pay 60% in taxes, they are still keeping plenty of money to be rich.

The rich were built off the backs of the poor. Rich people are rich because a bunch of people have sacrified and suffered for them. I'm sorry but nobody making seven figures is working so much harder than the people making 30k. Also most rich people are greedy and cheap. Force them to give back.

Wow!
this is just wrong and being angry because you did not achieve wealth doesn't mean you should be allowed to take someone else's money.
In my time on earth I have seen a lot of people. Most pretty much had the same resources and opportunities. The difference was their drive and willing to sacrifice. I used to know someone like you who was jealous of others who had money. The funny thing was not only did he turn down extra shifts at work, but he would actually try to cut hours he had to work. While he just lounged around I worked double and triple shifts and invested my money.
It's the same with others. Some would settle for lower paying jobs and be satisfied with coming home and having a few beers and paying rent or playing xbox. They made no effort to further their education or pick up a second job.
There's no doubt that some inherited money, but so many have made the extra effort to rise above. They should not have to give their hard earned rewards to support others.

On another note,people complain about companies and wealthy people moving out of the area or overseas. Have you ever thought that maybe people like you who get their way in taking the money they earned is why?

Finally you have no idea if wealthy people aren't giving back. Many do and probably give back more than you make in a year.

Instead of posting here, why don't you make an effort to better yourself and make more money then you can give back yourself instead of dictating what other people are obligated to do.

[SportyandMisty]

Originally Posted by NyWriterdude

There are plenty of barriers to mobility. For starters you have to have relevant degrees and professional licenses to get professional jobs.

Anyone who wants a degree or license can go get one. Money is not a barrier - most universities have a need-blind admissions policy and commit to provide enough financial aid so that money is not a barrier. With the exception of a few universities, intelligence is not a barrier.

Moreover, professional jobs are not the only path to class mobility. Blue collar jobs abound - even ones with little capital requirements.

Originally Posted by NyWriterdude

You cannot have felonies if you want to get these jobs.

True - but professional degrees are far from the only path to financial success.

Originally Posted by NyWriterdude

In order to get an education you have to figure out how to pay for it.

See above.

Originally Posted by NyWriterdude

And of course you must meet the academic standards in order be accepted into college or grad school.

See above. I understand your point -- be convicted of murdering someone while you're in high school and you're not going to end up practicing constitutional law. Be convicted of a sex offense while you're in Stanford and you're not going to be an orthopedic surgeon. But professional occupations are not the only path to financial security and financial success.

Originally Posted by NyWriterdude

There are plenty of barriers to mobility. There are ways around these barriers, but they do screen out LOTS of people.

When there is a way around a barrier, it really isn't a barrier, is it? More of a speedbump wouldn't you say?

I understand your points, and there are no guarantees in life. But we do not have a caste system that generates a true impenetrable barrier. No one holds a gun to someone's head and says, "if you take the bar exam, I'm going to spill your brains over the test."

Now -- having said that -- yes, there are some true barriers. For example, a Wounded Warrior who returns from Iraq or Afghanistan with TBI -- Traumatic Brain Injury. The human brain in general does not heal when it is damaged due to trauma.

At the same time, I read recently about the Wounded Warrior who was the 2nd quadruple amputee from the Iraq. He lost both legs at the knee, and he lost both arms at the elbow.

He is now doing well financially as an insurance salesman.

[Yermum]

Originally Posted by CaliRestoration

You don't even have to be that great in college. You can be a C+ student, get hired as an entry level analyst at some investment firm, and you're literally 5 years away from a high 6 digit senior analyst role.

It's not *quite* as easy as that.

To go into finance you usually have to go to a relatively decent school (top 50) for a small company or highly selective (top 10/20) for top companies.

The interviews are pretty hard and the hours can be crap as an analyst. But yes earning mid 100k in finance is a walk in the park compared to something where grades DO matter like going to medical school

And I say this from personal experience as my fiancee is an MD and I work in RE Finance.

[CaliRestoration]

Originally Posted by Yermum

It's not *quite* as easy as that.

To go into finance you usually have to go to a relatively decent school (top 50) for a small company or highly selective (top 10/20) for top companies.

The interviews are pretty hard and the hours can be crap as an analyst. But yes earning mid 100k in finance is a walk in the park compared to something where grades DO matter like going to medical school

And I say this from personal experience as my fiancee is an MD and I work in RE Finance.

I never said it was "easy", I said you didn't have to do great in college (i.e - 4.0 GPA, honors, etc). That's the problem with millenial America in general, if it's not "easy", it's seen as an unfair barrier to entry (or waycist).

But as with you, my story was personal as my nephew did exactly what I described which was why my story was so detailed (entered CSU Fullerton, exited with 2.8 GPA, hired at investment firm with less than 60 employees, worked there for 5 years, and then moved to a senior analyst position at Goldman Sachs making $200,000+ a year). The kid wasn't some super genius in college, but he did his work, and he put in his years, learning his trade. Now he's 29 years old, drives a Porsche 911, owns a home in San Francisco (you know, where half the people on the Bay Area forum complain they can't afford to live) and handles lots of my personal investments because I trust him.

People who often complain about "barriers to entry" are probably making up their own barriers IMO.

[Yermum]

Originally Posted by CaliRestoration

I never said it was "easy", I said you didn't have to do great in college (i.e - 4.0 GPA, honors, etc). That's the problem with millenial America in general, if it's not "easy", it's seen as an unfair barrier to entry (or waycist).

But as with you, my story was personal as my nephew did exactly what I described which was why my story was so detailed (entered CSU Fullerton, exited with 2.8 GPA, hired at investment firm with less than 60 employees, worked there for 5 years, and then moved to a senior analyst position at Goldman Sachs making $200,000+ a year). The kid wasn't some super genius in college, but he did his work, and he put in his years, learning his trade. Now he's 29 years old, drives a Porsche 911, owns a home in San Francisco (you know, where half the people on the Bay Area forum complain they can't afford to live) and handles lots of my personal investments because I trust him.

People who often complain about "barriers to entry" are probably making up their own barriers IMO.

Good for him. I mucked around in my undergrad and didn't do any internships/ GPA of 3.3 though I went to a target school. Eventually landed at a pretty cush position at a small RE shop where I've been for about 2 years. Not sure if I want to make the move and make serious $$ or just chill.


Work experience eventually matters more than undergrad. I can assure you though there's no way in HELL he would get hired at Goldman straight from CS:F with a 2.8 gpa.